Mon.Nov 15, 2021

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Home price growth, low mortgage rates boost MMI fund

Housing Wire

The Department of Housing and Urban Development is taking a cautionary approach to changes to mortgage insurance premiums after a banner year for its Mutual Mortgage Insurance (MMI) fund. The capital ratio of the Federal Housing Administration ’s MMI fund reached 8.03% at the end of September, an increase of 1.93 percentage points from the previous year, when it was 6.10%.

Mortgages 393
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4 Things Every Renter Needs To Consider

Keeping Current Matters

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle on renting for another year. 1.

Equity 248
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Better.com forecasts another rough quarter

Housing Wire

Vishal Garg, founder and CEO, Better.com. Better.com is struggling to deal with the waning influence of refis in the mortgage market, with preliminary results published by their SPAC partner revealing that the digital lender expects a net loss between $85 million and $100 million in the third quarter. And the forecast looks even worse for the fourth quarter, documents show.

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New Development Spotlight: The Strand Turks & Caicos

Sotheby's International Real Estate

Showcasing the height of new luxury construction in some of the world’s most sought after locations, let’s explore an exclusive new development from our worldwide network. Turks and Caicos | Nina Siegenthaler & Joe Zahm, Turks & Caicos Sotheby’s International Realty . The Strand Turks & Caicos is a private residential resort community unlike any other.

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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Rocket cautiously wades into iBuying

Housing Wire

Rocket Companies CEO Jay Farner. When Rocket Companies announced in August that it would be dipping its toes in the iBuying space, the lender didn’t do so with its usual panache. There were no polished marketing promos or commercials featuring celebrities like Tracy Morgan. In fact, news that Rocket would be pushing into iBuying was barely a footnote in the August press release.

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2021 MMI Report: Reverse mortgage portfolio hits positive territory for first time since 2015

Housing Wire

The reverse mortgage portion of the Federal Housing Administration’s Mutual Mortgage Insurance Fund (MMIF) has reached a positive capital ratio on the overall government-backed portfolio, according to an annual actuarial review of the fund’s finances and FHA’s Annual Report to Congress, both released Monday morning. Its economic net worth value sits at approximately $3.8 billion compared with the -$492 million figure recorded in 2020.

Mortgages 379
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September Single-Family Permit Gains

Eye on Housing

Over the first nine months of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 864,184. On a year-over-year (YoY) basis, this is a 21.2% increase over the September 2020 level of 713,286. Year-to-date ending in September, single-family permits increased in all four regions. Southern region reported the strongest increase of 22.8%, followed by Northeast (+20.4%), West.

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It’s Official. Canada’s Largest Real Estate Board Is Building A For-Profit Company

Better Dwelling

Canada’s largest real estate board confirmed it’s building a for-profit subsidiary. The Toronto Real Estate Board (TRREB) emailed members to announce its new for-profit plan. This comes after brokers began to rally support for an inquiry into the decision to pursue profits. Some allege the plan was done in secret, but the board says they […].

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The Meaning of Escrow and How it Works in a Real Estate Transaction

Maximum Exposure Real Estate

What Does Escrow Mean? You could encounter the word “escrow” quite often when you are buying a home. It can mean different things during the buying process and once you own the property. Knowing what it means and how it will affect you, is something you should know before buying a home. It is extremely […]. The post The Meaning of Escrow and How it Works in a Real Estate Transaction appeared first on Massachusetts Real Estate Exposure.

Marketing 104
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Canadian Real Estate Prices Saw A “Typical” Home Rise Up To $78,000 Just Last Month

Better Dwelling

Canadian real estate prices have once again turned into a runaway freight train. The Canadian Real Estate Association (CREA) October Home Price Index (HPI) made a big jump. Home prices across the country are now rising at the fastest annual rate since June. This has almost entirely reversed the pre-election slowing of growth. Canadian Home […].

Mortgages 106
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How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes

Realtor.com

How much earnest money is normal? Here are eight mistakes with earnest money deposits that home buyers often make and how to avoid them. The post How Much Earnest Money Is Normal? Earnest Money Deposit Mistakes appeared first on Real Estate News & Insights | realtor.com®.

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Estate Condition Clinton Hill Anglo-Italianate With Adjacent Garden Lot Asks $2.498 Million

Brownstoner

This Anglo-Italianate in Clinton Hill is not for the faint of heart. While there are some marble mantels and moldings to be seen, much of the interior of the 14-foot-wide row house on Cambridge Place looks like a renovation job interrupted. While narrow, the house benefits from an adjacent garden… Read More > The post Estate Condition Clinton Hill Anglo-Italianate With Adjacent Garden Lot Asks $2.498 Million appeared first on Brownstoner.

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Inventory Watch

BubbleInfo

Buyers are still scrambling to find a home – there have been more new pendings than new listings in each of the last three weeks! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ NSDCC (La Jolla to Carlsbad) Under $1,000,000 Market Date NSDCC Active Listings Avg. LP/sf Avg. DOM # of Pendings Jan 6, 2020 40 $453/sf 51 40 Jan 13 41 […].

Marketing 105
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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Work Starts on Long Crumbling, Now Landmarked Abolitionist Home in Downtown Brooklyn

Brownstoner

After years of neglect, stabilization work is under way at the recently landmarked abolitionist home on Duffield Street in Downtown Brooklyn. A sign on the green construction fence outside 227 Duffield Street proclaims "stabilization work" is in progress to "stabilize and protect the structure to provide the basis for future… Read More > The post Work Starts on Long Crumbling, Now Landmarked Abolitionist Home in Downtown Brooklyn appeared first on Brownstoner.

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With inventory still tight, home buyers can’t afford to hesitate

Realty Biz

With so few home listings around, prospective home buyers have very little time to make up their minds on whether or not they intend to bid on a house they’ve seen. The reality is that as soon as a listing lands on the market, the race is on. Between July 2020 and June 2021, the average home was on the market for just one week before going under contract, according to the National Association of Realtor’s newly published 2021 Profile of Home Buyers and Sellers.

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Mortgage and refinance rates today, Nov. 15, 2021

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates moved moderately higher again last Friday. That was the third day of rises in a row. But it’s too soon to conclude […].

Mortgages 101
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Councilman Backs Local Call for Memorial, Not Housing, on Flatbush African Burial Ground

Brownstoner

Council Member Mathieu Eugene officially endorsed the plan for an African burial ground memorial at the former site of P.S. 90 in Flatbush on November 10, instead of a planned affordable housing project and vocational training center that would have incorporated a memorial as well. Eugene’s announcement comes after over… Read More > The post Councilman Backs Local Call for Memorial, Not Housing, on Flatbush African Burial Ground appeared first on Brownstoner.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Should You Wait Until Spring To Sell Your Home? No Way! Why Winter Listings Rule Today

Realtor.com

Winter is usually the slow season, but this year will be anything but. High home prices and a lower home inventory means it's a great time to sell. The post Should You Wait Until Spring To Sell Your Home? No Way! Why Winter Listings Rule Today appeared first on Real Estate News & Insights | realtor.com®.

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Zillow Offers Failure Proves Value of Real Estate Experts

First Team Real Estate

Zillow Offers iBuyer program failure illustrates technology’s limitations within the real estate market. It takes a real estate expert to understand the nuances of the market – not an algorithm – and benefit buyers and sellers by properly pricing and selling a home. Why is Zillow losing money? Launched in 2006, the popular online search portal grossed $3.3 billion in revenue for 2020 with 9.6 billion visits by capitalizing on America’s favorite pandemic pastime – escaping quarantine

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3-Bedroom Condo Floor Plans: Pass or Fail?

Toronto Realty Blog

TorontoRealtyBlog. Did you live in a dorm in university? I didn’t. I’ll admit, I was one of those kids who simply refused. And while there were certainly bigger losers than me, for example, the kids that lived in Toronto and drove to Hamilton every day for school , I chose to live off-campus in first-year university. I remember touring Western University with my mommy when I was 17-years-old, and part of the tour was in the dorms.

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Daily Links: As Demand Exceeds Funds, New York Halts Rent Relief

Brownstoner

In the News New York to Stop Accepting Applications for Pandemic Rental Aid [NYT] What the Infrastructure Bill Means for the New York Region [NYT] Brooklyn Library to Lend Telescopes to Amateur Astronomers [NYDN] Veterans Day Ceremony at Brooklyn War Memorial Honors Local Heroes [Eagle] City Revives Exterminated Pesticide Facility Proposal for East Flatbush [BP] Photos:… Read More > The post Daily Links: As Demand Exceeds Funds, New York Halts Rent Relief appeared first on Brownstoner.

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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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Letter of explanation for a cash-out refinance (Template)

The Mortgage Report

Lenders may ask for a cash-out refinance letter of explanation. Here's why — and how to write a letter that will help you get approved.

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NAR Board approves major MLS rule changes to take effect in January

The American Genius for Real Estate

The NAR Board has approved new MLS rules to improve transparency for consumers, all set to take effect in just a few weeks. The post NAR Board approves major MLS rule changes to take effect in January appeared first on The American Genius Real Estate.

MLS 91
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What Is a Quitclaim Deed and When Do You Need to Get One?

Realtor.com

If you are selling your home now, you may not remember that you signed and received a deed, such as a warranty deed or quitclaim deed. The post What Is a Quitclaim Deed and When Do You Need to Get One? appeared first on Real Estate News & Insights | realtor.com®.

As-is 91
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Check This Video for Tips From Brownstoner Webinar ‘Buying a Condo/Co-op in Brooklyn’

Brownstoner

Curious to see what options are available when securing a loan for a new-development condo, resale condo or co-op apartment? Then check out this free webinar "Tips on Buying a Condo/Co-op in Brooklyn." The webinar, part of the Brownstoner Home Event Series, features Brian Scott Cohen, a senior loan originator at GR… Read More > The post Check This Video for Tips From Brownstoner Webinar ‘Buying a Condo/Co-op in Brooklyn’ appeared first on Brownstoner.

Loans 91
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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.